Howland Capital Management LLC Trims Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Howland Capital Management LLC reduced its stake in Kinsale Capital Group by 11.0%, now holding 81,213 shares and making up 1.8% of its investment portfolio.
• Kinsale Capital recently reported an EPS of $4.78, exceeding the consensus estimate of $4.41, with a quarterly revenue of $458.70 million, up 22.2% year-over-year.
• The company's stock has seen significant analyst activity, with multiple upgrades and price target increases, now averaging around $506.44.

Howland Capital Management LLC cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,213 shares of the financial services provider's stock after selling 10,002 shares during the quarter. Kinsale Capital Group makes up approximately 1.8% of Howland Capital Management LLC's holdings, making the stock its 16th biggest position. Howland Capital Management LLC owned about 0.35% of Kinsale Capital Group worth $39,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Kinsale Capital Group by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 544,954 shares of the financial services provider's stock valued at $254,441,000 after acquiring an additional 16,246 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of Kinsale Capital Group by 6.2% during the first quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock worth $263,233,000 after purchasing an additional 31,480 shares in the last quarter. GAMMA Investing LLC raised its stake in Kinsale Capital Group by 59,220.7% during the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares during the period. DF Dent & Co. Inc. lifted its holdings in Kinsale Capital Group by 8.4% in the 4th quarter. DF Dent & Co. Inc. now owns 245,560 shares of the financial services provider's stock worth $114,218,000 after purchasing an additional 18,946 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Kinsale Capital Group by 16.8% in the 4th quarter. Northern Trust Corp now owns 216,616 shares of the financial services provider's stock worth $100,755,000 after purchasing an additional 31,094 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the transaction, the executive vice president owned 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KNSL. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a report on Monday. Compass Point raised their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. BMO Capital Markets boosted their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $506.44.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock traded up $3.70 during mid-day trading on Friday, reaching $444.39. 189,843 shares of the company's stock traded hands, compared to its average volume of 222,047. Kinsale Capital Group, Inc. has a 12-month low of $405.00 and a 12-month high of $531.79. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $472.87 and a two-hundred day moving average of $462.26. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.63 and a beta of 1.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. During the same period in the previous year, the firm posted $3.75 EPS. The business's quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's dividend payout ratio is 3.55%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.